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Aristocrat CEO and managing director Trevor Croker has expressed confidence in the company’s ability to successfully transition its land-based casino games to the online sphere.

“The performance of our early game releases in the US has validated our hypothesis that Aristocrat’s land-based casino games would resonate online,” he stated during the company’s AGM.

He added that the company’s 2023 performance demonstrated the ongoing execution of its growth strategy. 

“Once again, we focused on investing in competitive product portfolios, including strategic adjacencies, to drive market share gains.”

In FY2023, Aristocrat generated revenue of A$6.3bn, up 13% from FY2022.

Largest growth opportunity

Croker highlighted the expansion into the online RMG sector as the “largest growth opportunity” for the gaming equipment and content supplier.

In 2023, the group completed the acquisition of B2B supplier Roxor Gaming and announced the proposed acquisition of NeoGames

Aristocrat views these acquisitions as fundamental to the group’s “build and buy” strategy to become a leading, scaled player in the online RMG space. 

“We will take our successful gaming portfolio online through a multi-year roll out plan, ensuring a steady stream of new game launches, both in North America and in Europe,” Croker said. 

RMG platform

The combination of Aristocrat’s content, and NeoGames’ robust technology platforms, will create a “world class online RMG platform” that will align Aristocrat with the aspirations of its major customers.

“It will also expand our growth opportunity in nascent markets such as North America, and provide access to more established markets like Europe and other emerging regulated global markets,” he added. 

The combined platform will operate at scale across the three main verticals, iGaming, iLottery and online sports betting, “with market leading positions in North America, Europe and Africa.

“These verticals offer access to a large and growing TAM of almost $100bn globally.”

He stated that Aristocrat found NeoGames’ foothold in iLottery particularly encouraging, describing it as a highly complementary adjacency characterised by a recurring revenue model, long-term government contracts, and high levels of regulation.

The group is advancing in obtaining the gaming pre-approvals necessary to finalise the NeoGames transaction and anticipates securing all approvals before the end of April 2024.

“We continue to work closely with those remaining regulatory authorities and believe a closing date in May is possible,” Croker said. 

The transaction remains subject to certain other customary conditions, including NeoGames shareholder approval. 

2024 update 

Croker also provided an update on the group’s performance in the current financial year. 

“We are operating in an environment of elevated political and economic uncertainty and continue to closely monitor possible impacts on consumer and customer sentiment and behaviour. 

“To date, we have not observed any material moderation in activity across our key markets,” he stated.

Aristocrat Gaming has begun the year on a positive note, reporting “firm demand and market share gains.” 

Moreover, Pixel United has shown resilience in its performance, and Anazi, the company’s online RMG division, has launched 13 new games in the current financial year, achieving market share gains in the US iGaming segment.

“We are continuing to focus strongly on costs, and expect to deliver benefits in 2024 and beyond as a result of these actions,” Croker added. 

Aristocrat also reiterated its outlook and financial projections, expecting to achieve NPATA growth over the full-year 2024 (12 months to 30 September), on a constant currency basis.

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